Sino Biopharm Shares Jump After Plan to Acquire Hygieia

Sino Biopharmaceutical's shares surged by 5.5% after announcing plans to acquire Hangzhou Hygieia Biomedical for up to 1.2 billion yuan (US$172 million). The acquisition aims to enhance Sino Biopharm's innovation in chronic disease treatments, positioning it as a new growth engine. Analysts view the deal positively, highlighting Sino Biopharm's commitment to expanding its research pipeline. The Chinese healthcare sector has seen significant innovation, attracting interest from global pharmaceutical companies, with the Hang Seng Biotech Index rising over 17% this year.